Education and Career Forum

Hello, I am interested to apply for an education loan in State Bank of Bikaner & Jaipur for studying MS in Abroad. After searching alot I didn’t understand the term Collateral Security. Can I know about this Collateral Security of Education Loan in State Bank of Bikaner & Jaipur?

Details of Collateral Security in State Bank of Bikaner & Jaipur Education Loan scheme for MS in Abroad aspirant:

For education loans amount up to 4.00 lacs, co-obligation of parents, no security is required.
For loan above Rs. 4 lacs to Rs. 7.50 lacs, co-obligation of parents together with collateral security
in the form of suitable third party guarantee is required.
For loans above 7.50 lacs, tangible collateral security of suitable value of loan is required.

Details of collateral security in State Bank of Bikaner & Jaipur Education Loan scheme for MS in Abroad aspirant are mentioned below:-

—> Upto Rs. 7.5 lakhs:- Parents/ guardian needs to be co-borrower and no collateral security is required.

—> Above Rs. 7.5 lakhs:- Parents/ guardian needs to be co-borrower and tangible collateral security equal to bank loan amount should be provided.